American Bank Acounts

[Clownies 2]

fwaguy...I asked the lady on the phone where it states that I can not post date a check and she just said it's illegal. I signed an agreement on the uses of the account but it didn't say anything about post dated checks. I did read all the small print when I got a checking account and it doesn't say anywhere that you can't post date a check.

The only reason for post dating the check is because I didn't get paid until today. I need to send the check ahead of time since it takes time to mail to Canada. I don't have a cushion in my account because I don't have any extra money. Yes it would be nice to say ok I get paid on Dec. 1st and I will just send a check to Canada same day delivery so my dad can pay my bills. Unfortunately that's not the case. I guess from now on I need to be very strict in telling my dad not to cash the check until the date on it. He thought the same thing as me...the bank won't cash it until the date on it.

About the overdraft. Yes I can not sign up for it but if I don't have money in my account and something like this happens then it is a $35 fee instead of $20 overdraft protection. Back in Canada it would just say insufficient funds and remain at $0...no fees.

Thanks for the comments but still feeling pretty dumb.

don't feel dumb, CanadaGirl. This country happens to be so greedy! It's all about money, and they're trying everything they can to get yours. I'm learning it the hard way myself!

[xjennyinstereox 0]

I know what you mean, CanadaGirl.. I used to post date cheques too.. in fact, my last landlord in Canada INSISTED on it, and wouldn't let me NOT do it. He expected 11 months of post dated cheques and wouldn't take cash or cheques on the 1st of the month.

It's ridiculous that it's illegal here and yeah, sometimes I want to go home too cos I get so frustrated with this effing place. My husband tells me I can't deposit cash into the ATM because the bank people on the other end aren't trustworthy.. they may take some of the cash out of your envelope and then you get screwed cos you think you deposited 100 but they took 40 so you end up with 60. I don't get that.

Does that really happen? I don't see how banks can possibly function that way. It seems ridiculous to me. I never saw a teller in Canada. I used the ATM to withdraw, deposit, pay bills, etc.

Oh well. I at least am thankful that you put this information up for others to read. We can learn from this.

[James Wells 0]

I know what you mean, CanadaGirl.. I used to post date cheques too.. in fact, my last landlord in Canada INSISTED on it, and wouldn't let me NOT do it. He expected 11 months of post dated cheques and wouldn't take cash or cheques on the 1st of the month.

It's ridiculous that it's illegal here and yeah, sometimes I want to go home too cos I get so frustrated with this effing place. My husband tells me I can't deposit cash into the ATM because the bank people on the other end aren't trustworthy.. they may take some of the cash out of your envelope and then you get screwed cos you think you deposited 100 but they took 40 so you end up with 60. I don't get that.

Does that really happen? I don't see how banks can possibly function that way. It seems ridiculous to me. I never saw a teller in Canada. I used the ATM to withdraw, deposit, pay bills, etc.

Oh well. I at least am thankful that you put this information up for others to read. We can learn from this.

I am 59, and have lived in the U.S. all my life, and I have trouble with the system....

[mawilson 2,133]

So I sent a check to my parents that had Dec. 2nd on it because I didn't get paid till today. Little did I know, my dad cashed the check with no problem on Nov. 27th. I have since been using my card thinking I had about $200 in my account for the past 4 days. I now have over $120 in overdraft protection charges because my account was in the negative. I called the bank to tell them that check shouldn't have been cashed till Dec. 2nd and they told me it's illegal to post date checks! That's right ILLEGAL.

I had the same problem with Lloyds Bank in England -- they cashed a post-dated cheque

as if the date wasn't there, and when I complained they told me it was "illegal" to write

post-dated cheques. I'm guessing the Canadian banking system is the UK system

frozen in time so things like post-dated cheques still work.

Edited December 3, 2006 by mawilson

[Alex+R 0]

Re: the automatic withdrawal for overdraft: I have USBank and they automatically add 200 dollars to any account with an overdraft, but it's from a credit line.

It costs a few cents for every day you don't pay it back. I try to avoid it though, especially because it's so depressing to think you have 200 dollars more than you do and then discover your mistake.

[no name 1]

Re: the automatic withdrawal for overdraft: I have USBank and they automatically add 200 dollars to any account with an overdraft, but it's from a credit line.

It costs a few cents for every day you don't pay it back. I try to avoid it though, especially because it's so depressing to think you have 200 dollars more than you do and then discover your mistake.

and I had my entire overdraft removed (at US Bank)!

[Lansbury 19]

I have also fallen foul of US banking practices. They declined to honour a transaction on my debit card when I had 100 times the amount in the account to cover it.

The customer service lady at our Wells Fargo branch explained to me in a very patronising way that it was for my own good. She now refuses to speak to e or even acknowledge my presence if my wife and I go in the bank together. That is the end result of the full and frank blasting I gave her about US bank practices.

The plus side is I am now on first name terms with the branch manager and he always makes a point of coming to speak when I go in the bank.

[no name 1]

don't feel dumb, CanadaGirl. This country happens to be so greedy! It's all about money, and they're trying everything they can to get yours. I'm learning it the hard way myself!

US banks have fees, their practices are not like in other countries. I'd hardly call that greedy!

[mawilson 2,133]

don't feel dumb, CanadaGirl. This country happens to be so greedy! It's all about money, and they're trying everything they can to get yours. I'm learning it the hard way myself!

US banks have fees, their practices are not like in other countries. I'd hardly call that greedy!

Indeed - it's not like UK banks are any better. I still remember getting a letter about

a £30 overdraft fee and getting charged £7 for the letter; £35 returned item fees (if a

cheque bounces); once I went overdrawn and didn't know about it, the bank kept

charging the overdraft excess fee multiple times, £30 a day, each day.

[Henia 11]

Hi Guys,

Ok I am very frustrated right now and really just need some support.

I came from Canada and my banking was so simple there. I didn't have overdraft for starters. If the money wasn't in my account then the transaction just didn't go through. They didn't "Borrow" money from another account and charge me $10 for this "service". I learned this lesson this summer when I was using my bank card thinking I had money but really it was just charging me $10 for each time it overdrafted.

That overdraft lesson cost me $30 and it was a quick lesson!!

Well......today I learned a new lesson. You can't post date checks here!!! Once again, in Canada I would write checks for rent, etc with Dec.1 in the date line and give them the check on Nov. 28th. The checks could not be cashed until Dec. 1st.

So I sent a check to my parents that had Dec. 2nd on it because I didn't get paid till today. Little did I know, my dad cashed the check with no problem on Nov. 27th. I have since been using my card thinking I had about $200 in my account for the past 4 days. I now have over $120 in overdraft protection charges because my account was in the negative. I called the bank to tell them that check shouldn't have been cashed till Dec. 2nd and they told me it's illegal to post date checks! That's right ILLEGAL.

I have lost over $150 in overdraft charges this year because I didn't know the "rules of banking" in America. I flat out told the bank that this was never written and I never signed anything that said I couldn't post date checks. Apparently it's just common knowledge. Sometimes I get so frustrated with this country I just want to go home. Can't they give us new people some breaks???

Has anyone done this or made so many costly mistakes? I feel sooooo dumb and of course my husband is furious with me because "I should have known"

Sorry this was so long but thanks for your comments.

Canadagirl

You are not alone...I have been in the US 8 years and still not gotten the hang of it... SO I have switched to the cash only for spenting... less complicated